John Laing to Develop Land-Based Wind Farm in Sweden

John Laing Plc, a U.K. developer of
hospitals, schools and roads, has finished raising money for its
land-based wind farm in Sweden that will produce enough
electricity to power about 12,500 homes.

The project, funded entirely by the company, is the first
onshore wind farm it will develop outside Britain, the London-
based unit of Irish asset manager Henderson Group Plc (HGG) said in astatement. It will comprise 10 turbines of 2 megawatts each, and
it’s expected to start working in the first half of next year.
The cost wasn’t disclosed.

Sweden wants half of its energy to come from renewables by
2020, up from 47 percent now. The country has a common green-
certificate market with Norway that requires electricity
suppliers to get a certain portion of power from low-carbon
sources. They do this by buying green certificates that have a
tradable value.

John Laing in December bought three solar power projects in
the U.K. It said at the time it was evaluating other solar deals
and would like to build a portfolio of renewable energy assets
across the U.K., northern Europe and other regions where it
already has a presence.

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editor responsible for this story:
Reed Landberg at
landberg@bloomberg.net